Patriot Financial Group Insurance Agency LLC grew its position in shares of Adobe Inc (NASDAQ:ADBE) by 130.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580 shares of the software company’s stock after buying an additional 328 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Adobe were worth $131,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of ADBE. Greenleaf Trust increased its position in shares of Adobe by 9.5% in the third quarter. Greenleaf Trust now owns 4,100 shares of the software company’s stock worth $1,107,000 after purchasing an additional 355 shares during the period. SG Americas Securities LLC increased its position in shares of Adobe by 76.9% in the third quarter. SG Americas Securities LLC now owns 87,663 shares of the software company’s stock worth $23,665,000 after purchasing an additional 38,095 shares during the period. Mackenzie Financial Corp increased its position in shares of Adobe by 26.1% in the third quarter. Mackenzie Financial Corp now owns 30,772 shares of the software company’s stock worth $8,307,000 after purchasing an additional 6,372 shares during the period. Eqis Capital Management Inc. increased its position in shares of Adobe by 24.6% in the fourth quarter. Eqis Capital Management Inc. now owns 1,126 shares of the software company’s stock worth $255,000 after purchasing an additional 222 shares during the period. Finally, Fulton Bank N.A. increased its position in shares of Adobe by 26.1% in the fourth quarter. Fulton Bank N.A. now owns 1,251 shares of the software company’s stock worth $283,000 after purchasing an additional 259 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.
Shares of ADBE stock opened at $257.00 on Monday. Adobe Inc has a 12 month low of $179.34 and a 12 month high of $277.61. The stock has a market cap of $125.35 billion, a PE ratio of 46.31, a PEG ratio of 2.52 and a beta of 1.15. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44.
Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, December 13th. The software company reported $1.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.88 by ($0.05). Adobe had a net margin of 28.69% and a return on equity of 31.19%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities analysts predict that Adobe Inc will post 6.21 EPS for the current year.
A number of research analysts recently commented on the company. BidaskClub upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. Zacks Investment Research cut Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. BMO Capital Markets raised their price target on Adobe from $295.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, December 14th. ValuEngine upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Finally, Credit Suisse Group restated a “buy” rating and issued a $300.00 price target on shares of Adobe in a research report on Friday, January 25th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $284.62.
In other news, EVP Ann Lewnes sold 2,692 shares of Adobe stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $226.05, for a total transaction of $608,526.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bradley Rencher sold 30,000 shares of Adobe stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $246.46, for a total value of $7,393,800.00. Following the sale, the executive vice president now directly owns 42,340 shares in the company, valued at $10,435,116.40. The disclosure for this sale can be found here. Insiders have sold 282,299 shares of company stock worth $68,899,256 over the last three months. Insiders own 0.33% of the company’s stock.
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Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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